Cloud native software allows applications to leverage capabilities of modern clouds such as scalability, availability and elasticity at a lower cost without vendor lock-in. Cloud native software architectures rely on microservices that are independently deployable and provide a loosely coupled system that is highly scalable and agile. The rising adoption of DevOps methodologies and containers are fueling the adoption of cloud native technologies across organizations. Continuous delivery and automated deployments are increasingly being adopted which rely on cloud native architectures.
The Global Cloud Native Software Market Share is estimated to be valued at US$ 6.69 Bn in 2024 and is expected to exhibit a CAGR of 34.8 over the forecast period 2024 to 2031. Key Takeaways Key players operating in the Cloud Native Software market are Boston Scientific, Merit Medical Systems,Cook Medical, Terumo Corporation, BTG Medical, Sirtex Medical, C.R. Bard. The increasing adoption of cloud-based technologies across enterprises is driving demand for cloud native software. Cloud native capabilities allow organizations to dynamically scale their applications up or down depending on computing requirements which is fueling adoption. Advancements in container technologies such as Docker and Kubernetes along with serverless computing are enhancing the potential of cloud native architecture by eliminating dependencies for manual resource management. Market Trends Microservices architecture is being adopted widely as it allows decomposition of monolithic applications into independently deployable services. This enhances scalability, flexibility and facilitates continuous delivery in cloud native applications. Serverless computing is gaining traction as it frees developers from the need to manage infrastructure and allows them to focus only on code. Serverless architectures are well-suited for event-driven applications and absorb computing fluctuations easily. Market Opportunities Growing demand from Small and Medium Enterprises for scalable and agile applications at low costs provides significant opportunities for cloud native software vendors. Leveraging artificial intelligence and machine learning capabilities of cloud platforms can enhance cloud native applications with advanced analytics capabilities. Integration of serverless capabilities with containers promises to optimize resource utilization further for cloud native deployments. Impact of COVID-19 on Cloud Native Software Market Growth The outbreak of COVID-19 pandemic has significantly impacted the growth of cloud native software market across the globe. The imposition of lockdowns and travel restrictions compelled many businesses and individuals to adopt work from home practices. This led to huge surge in demand for cloud-based collaboration tools, virtual private networks and other enterprise cloud solutions to ensure business continuity. Many cloud native software providers witnessed substantial increase in demand for their products and services as digitalization became imperative amid the pandemic. However, factors like supply chain disruptions and changing economic conditions posed certain challenges initially. With the progressive lifting of lockdowns and resumption of business activities, the demand is regaining momentum steadily. Many organizations have now realized the strategic importance of cloud infrastructure and are focusing on migrating more of their workloads and applications to public clouds. This is creating ample growth opportunities for specialized cloud native software vendors. Moreover, the pandemic has accelerated the digital transformation journeys of companies across industries. Emerging technologies like AI, IoT, blockchain are being increasingly adopted which is further fueling the adoption of microservices, containers and other cloud native architectures. Looking ahead, the cloud native software market is expected to grow at an even faster pace supported by ongoing technology modernization efforts of enterprises. Western Europe Region Concentrates Highest Value for Cloud Native Software Market The Western Europe region accounts for the largest share of the global cloud native software market in terms of value. Countries like Germany, UK, France have strong presence of leading cloud service providers as well as robust digital infrastructure. Enterprises across verticals in these countries have traditionally been early adopters of advanced technologies. Furthermore, factors like stringent data residency and compliance mandates are driving more organizations to leverage privately hosted clouds and cloud native applications. High spending capabilities and technology affinity of users in Western European countries also contribute to the high market concentration in the region. Asia Pacific Emerging as the Fastest Growing Region On the other hand, the Asia Pacific region is expected to witness the fastest growth in the cloud native software market over the forecast period. Proliferation of digital services and favourable government policies supporting technology deployments are fueling market expansion in Asia Pacific countries. Rapid infrastructure development, rising technology adoption among SMEs and startups along with growing consumer demand for digital services are some of the key factors accentuating the growth of cloud native software market in Asia Pacific region. Nations like China, India, South Korea, Australia, Singapore are at the forefront of this high growth trajectory. Get more insights on this topic: Cloud Native Software Market
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